The DAMAC group is one of the most successful real estate businesses in the United Arab Emirates. The company was founded in 2002 by Hussain Sajwani and has been growing and expanding very successfully ever since its inception. Up until 2012, Hussain owned a shareholding of 100 percent at the company, but this has reduced to 85 percent after he sold some of the shares to the company. The company is estimated to be worth close to four million US dollars and has their reach several countries in the Middle East, Asia and even Africa.
Hussain Sajwani started his investment journey by attending the Washington state university where he studied economics and graduated with honors. After his graduation, he went and got his first job with the GASCO group, which is a subsidiary of ADNOC. In 2002, he started thinking about starting his own business and that is how he raised capital to start the DAMAC Group. The acronym stands for Draieh management services, Co.
Another thing that people don’t know about Hussain is that before starting the DAMAC group, he had started other companies. These include the Al Jazeira Investment Company and DICO investments. Both companies have gone ahead to bring him a lot of income through their success and have expanded their influence across many regions. The Al Jazeira Company is said to be currently worth more than 100 million shillings.
It was interesting for people to realize that there is a close link between Hussain and Donald Trump. As a matter of fact, in one of the events held at the white house, he was an invited guest, something that got people talking. Hussain is indeed a very close business associate of Donald Trump because they have invested in the same industry. The inauguration was therefore one of the events that indicate that clearly, this man has a great vision for the future and that he will do even better in business. He is known and respected by many as a leader in business, so much that he is a board member in several institutions including a University in Oman.